General Electric (NYSE:GE – Get Rating) had its price objective lowered by UBS Group from $113.00 to $87.00 in a research note published on Thursday, Marketbeat Ratings reports. UBS Group currently has a buy rating on the conglomerate's stock.
GE has been the topic of several other reports. Bank of America cut their target price on General Electric from $132.00 to $120.00 in a report on Wednesday, April 27th. Barclays cut their target price on General Electric from $96.00 to $81.00 and set an overweight rating on the stock in a report on Friday, July 8th. Wells Fargo & Company raised their target price on General Electric to $73.00 and gave the company an outperform rating in a report on Wednesday, July 27th. Morgan Stanley dropped their price objective on General Electric from $100.00 to $95.00 and set an overweight rating on the stock in a research note on Tuesday, July 12th. Finally, Credit Suisse Group dropped their price objective on General Electric from $86.00 to $84.00 and set an outperform rating on the stock in a research note on Wednesday, July 27th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $103.21.
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Shares of NYSE:GE opened at $74.36 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.80 and a debt-to-equity ratio of 0.77. General Electric has a 1 year low of $59.93 and a 1 year high of $116.17. The business has a fifty day simple moving average of $68.90 and a 200 day simple moving average of $81.90. The firm has a market cap of $81.54 billion, a price-to-earnings ratio of -17.54, a P/E/G ratio of 3.88 and a beta of 1.11.
General Electric (NYSE:GE – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The conglomerate reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.40. General Electric had a positive return on equity of 7.50% and a negative net margin of 5.94%. The business had revenue of $18.65 billion during the quarter, compared to analyst estimates of $17.90 billion. During the same period last year, the company earned $0.40 earnings per share. General Electric's quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that General Electric will post 2.74 earnings per share for the current fiscal year.General Electric Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Tuesday, June 28th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, June 27th. General Electric's payout ratio is -7.55%.
Institutional Investors Weigh In On General Electric
A number of institutional investors have recently added to or reduced their stakes in the stock. Coastal Bridge Advisors LLC boosted its holdings in General Electric by 31.6% during the second quarter. Coastal Bridge Advisors LLC now owns 5,435 shares of the conglomerate's stock valued at $346,000 after purchasing an additional 1,304 shares in the last quarter. MQS Management LLC acquired a new position in shares of General Electric in the 2nd quarter worth approximately $501,000. CMG Global Holdings LLC boosted its holdings in shares of General Electric by 8.6% in the 2nd quarter. CMG Global Holdings LLC now owns 27,286 shares of the conglomerate's stock worth $1,737,000 after acquiring an additional 2,167 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of General Electric by 5,998.2% in the 2nd quarter. M&T Bank Corp now owns 269,174 shares of the conglomerate's stock worth $15,103,000 after acquiring an additional 264,760 shares in the last quarter. Finally, CapWealth Advisors LLC boosted its holdings in shares of General Electric by 0.5% in the 2nd quarter. CapWealth Advisors LLC now owns 143,524 shares of the conglomerate's stock worth $9,138,000 after acquiring an additional 649 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.
General Electric Company Profile
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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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